灯笼(dēng long) - lantern in Mandarin

灯笼 (dēng long) means lantern, from 灯 (dēng, lamp, light) and 笼 (lóng, cage, basket, though it loses its tone here and is said as a neutral "long"). Note the pronunciation: the compound is dēng long, with the second syllable toneless, not the full dēng lóng you'd get reading each character on its own.

Red paper lanterns, 红灯笼 (hóng dēng long), are one of the most recognisable images of 春节 (chūn jié), Spring Festival, hung in doorways and streets, while smaller ones get carried by hand during 中秋节 (zhōng qiū jié), the Mid-Autumn Festival, when children walk around after dark with lit lanterns.

The verb that goes with hanging a lantern is 挂 (guà), the same verb used for hanging pictures or clothes: 到处挂着红灯笼 (dào chù guà zhe hóng dēng long), "red lanterns are hung everywhere".